B. Riley Points to Trump-Xi Meeting, SEC Tokenization Rule as Crypto Catalysts
B. Riley analyst Fedor Shabalin said that the recent crypto rally is driven primarily by liquidity and sentiment rather than fundamental changes.
The analyst cited President Donald Trump's upcoming meeting with Chinese President Xi Jinping and the SEC's new framework for tokenized stocks as key near-term catalysts for the sector.
B. Riley raised its price targets on six crypto-linked stocks, pointing to these events as drivers of future growth. The firm raised its targets on SharpLink Gaming (SBET), Nakamoto (NAKA), Strategy (MSTR), Forward Industries (FWDI), Bitmine Immersion Technologies (BMNR) and Strive (ASST).
The price changes come after a sharp weekend rally in cryptocurrencies, with Bitcoin climbing above $86,000. However, gains in crypto equities lagged behind.